W Sequence Might Not End the 2022 Season On account of Monetary Points: Report

W Sequence, the open-wheel junior collection contested solely by girls in fully-funded rides, could possibly be in dire straits, The Telegraph studies — to the purpose that the ultimate races of this season are in jeopardy. This comes right down to a mixture of the excessive prices of beginning a brand new race collection and the current plummeting of the British pound.

The Telegraph studies that sources knowledgeable the publication of great monetary considerations. As W Series heads to Singapore for its upcoming race this weekend, Telegraph says {that a} bare-bones crew will “not be sending anybody” within the collection assist crew to Asia. Additional, Telegraph studies that different sources declare the collection hasn’t paid “invoices price hundreds of kilos, a few of which date again months” whereas Velocity Expertise, the proprietor of W Sequence, is in debt.

It additionally gives some background:

W Sequence’ most up-to-date accounts filed with Firms Home on Sep 5 confirmed it had internet liabilities of over £7.5million to Dec 31, 2021, which was deemed to be “consistent with expectations given the enterprise is within the start-up section”.

Talking on Wednesday evening [W Series CEO Catherine] Bond Muir mentioned the present world monetary disaster, and depreciating pound, had solely made her job more durable.

Firms Home is a registrar for British corporations; it regulates and maintains firm data. The aforementioned £7.5 million debt is taken into account a reasonably regular expense for a large start-up firm, particularly one which entails motorsport.

Nonetheless, monetary backers that might ease that debt haven’t been forthcoming, and The Telegraph studies that Bond Muir disclosed the difficulties of even ending out final yr — one thing that’s solely now exacerbated by an alleged American investor backing out on the final second.

Bond Muir is assured that W Sequence will soldier on, even when it simply takes some monetary finagling to eke out the remainder of this season. But when worst involves worst, The Telegraph notes that the ultimate races of W Sequence’ season — doubleheaders in Austin and Mexico Metropolis — may fail to go forward. W Sequence’ whole prize pot of $1.5 million, the publication says, shouldn’t be assured to be distributed.

Whereas W Sequence as an idea has confronted some criticism, it’s undoubtedly a optimistic factor to afford girls extra alternatives within the motorsport world.